Portuguese GDP grew 0.2 percent from 1st to 2nd quarter and 1.4 percent year-on-year

16 August 2010

Lisbon, Portugal, 16 Aug – The pace of the Portuguese economy slowed while continuing to grow in the second quarter, rising 0.2 percent over the first three months of the year and 1.4 percent over the same period in 2009, the National Statistics Institute (INE) announced on Friday in Lisbon.

According to the INE’s early estimate (the first for this period), growth recorded during the second quarter over the first was much less than the 1.1 percent figure recorded in the first quarter of the year compared to the three previous months.

Compared to the year-on-year quarter, the economy grew 1.4 percent in the second quarter. The similar comparative figure for first quarter growth was 1.8 percent.

Affecting the figures in terms of year-on-year variation, the INE highlighted a drop in the contributions of internal demand and net external demand.

In the same period the economies of the euro-zone and the European Union grew 1 percent in the second quarter over the first three months of the year, and 1.7 percent in year-on-year terms, according to Eurostat figures. (macauhub)